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Natural Gas Short term View for traders 10.03.2014

Natural gas March contract closed at 283.30 up by 0.70 rupees. Natural gas isfluctuating in a tight range among 275 and 295
and failing to form a clear breakout either side. Today price objective for
bears would be 276 failures below this level would bring 270-65-260 and more
down side. Resistance is now seen near 296 any sustained move above that level
would lead a rally towards 302-307 and more upside.

Natural Gas trading range for the day is expected among the key
support at 270 and resistance at 287.

Recommendation:

Â·Today staying long in Nat gas
around 282-280 with stop loss below 276 for targeting 286-291-295-302 and more
upside might be appropriate for intraday and short term.

Â·Selling below 276 with stop
loss above 281 for targeting 272-268-263 might be appropriate for intraday and
short term.

Â·In another likely scenario
buying can be taken above 287 with stop loss below 283 for targeting 291-295
and more upside.

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